Business
Bonal International, Inc. Net Income Increases 23 Percent at Year to Date
Bonal International, Inc. Net Income Increases 23 Percent at Year to Date.
About this update from Bonal International, Inc.
[{"type":"text","content":"Bonal International, Inc. Net Income Increases 23 Percent at Year to Date \n\nShareholder Equity Increases 29 Percent \n\nRoyal Oak, Mich., Nov. 1, 2007 - Bonal International, Inc. (OTC: BONL) today announced six month and second quarter ending Sept. 30, 2007 unaudited results. \n\nYear to date, shareholder equity is up 29% from last year and six month revenue increased 20%. Net income increased by 23% at the six month. \n\nNet quarterly revenue for Bonal International decreased 2% from $568,816 at Sept. 30, 2006 to $558,316 at Sept. 30, 2007. Bonal's net income is $110,864 down 34% from $168,270 last year. Bonal's per share net income for the quarter is $0.06 compared to $0.10 last year. Earnings per share year to date went from $0.14 last year to $0.17 per share on Sept. 30, 2007. \n\nAlthough the quarterly numbers are down, Bonal had $90,000 in open orders at the end of September 2007, compared to no open orders at the end of September 2006. Bonal received a large order for a defense application on the last day of the month.\n\n2nd Quarter ending Sept 30, \n \t\t\t2007\t\t\nRevenue $558,316 \nNet income\t 110,864\t\nEarnings per share\t0.06\t\n\t \n\t\t\t2006\nRevenue \t $568,816\nNet income\t 168,270\nEarnings per share\t0.10 \n\n\nSix Months ending Sept. 30, \n \t\t\t2007\t\nRevenue $1,203,089 \nNet income\t 290,723\t\nEarnings per share\t0.17\t\n\n\t\t\t2006\nRevenue $1,002,334\nNet income\t 237,225\nEarnings per share\t0.14\n\n\"We are pleased to see our profit continue to increase as it has over the past three years,\" said A. George Hebel, III, chairman and president of Bonal International. \"It is our goal to add value for our customers and to continue increasing shareholder equity.\"\n\nIn other news, the Bonal International Board of Directors recently informed its president that his employment agreement will not be renewed effective May 1, 2008. The agreement originally negotiated in 1985 and many of its terms were no longer applicable or in the best interest of Bonal. The agreement was terminated in accordance with its terms and there were no material early termination penalties incurred by Bonal International, Inc. Negotiations are currently ongoing for a new agreement which should be in place before May 1. \n\nBonal International Inc. through its wholly owned subsidiary, Bonal Technologies, Inc., is the world's le...